BankEast in Knoxville, Tenn., has received a prompt corrective action directive from the Federal Reserve due to its undercapitalized status.

Member satisfaction with credit unions has taken a slight dip in a new poll. A study conducted by the American Customer Satisfaction Index found that credit unions "are now beginning to feel pressure to increase performance."

Cascade Bancorp in Bend, Ore., said Monday that shareholders overwhelmingly approved a plan to sell common stock to a group of outside investors.

Bank acquisition activity is widely expected to pick up in 2011, but some parts of the country might be more active than others.

Modern Bank, a lender to the affluent where former football quarterback Joe Montana is vice chairman, hired former Citigroup banker Damian Kozlowski to lead a turnaround.

Capitol Bancorp Ltd. has outlined a strategy, including a shareholder rights offering and a potential reverse stock split, that it hopes will enhance its common equity and regulatory capital.

Last decade's acquisitions made midsize banks an endangered species. Today's acquisitions are repopulating the category, and Tower Bancorp is a case in point.

Last decade's acquisitions made midsize banks an endangered species. Today's acquisitions are repopulating the category, and Tower Bancorp is a case in point.

The Treasury Department announced that six financial firms repaid funds they had received in the government's Wall Street bailout, delivering about $2.7 billion to taxpayers.

Shareholders of American Community Bancorp Inc. in Evansville, Ind., on Wednesday approved the company's sale to German American Bancorp Inc. in Jasper, Ind.

Analysts predict there will be more deals like Hancock's takeover of Whitney as banks seek buyers to help cut ties with Treasury rather than test the highly dilutive capital markets.

Hancock, of Gulfport, Miss., is buying the larger New Orleans-based Whitney. Hancock would gain an entree into Texas and Louisiana and a bigger presence in Florida and Mississippi.

Berkshire Hills Bancorp in Pittsfield, Mass., has agreed to pay $108 million for hometown rival Legacy Bancorp.

Berkshire Hills Bancorp said the nearly $110 million deal for Legacy Bancorp will further bolster its presence in western Massachusetts and neighboring New York.

The $8.3 billion-asset Hancock is buying the larger $11.5 billion-asset Whitney, which has faced growing losses and deteriorating credit quality for several quarters. The deal would expand Hancock's operations in the Southeast and create a combined institution with approximately $20 billion of assets.

F.N.B. Corp. in Hermitage, Pa., announced Tuesday that longtime board member Peter Mortensen is retiring. The former chairman of the $9 billion-asset F.N.B. plans to leave when his term expires in May.

Shareholders at PremierWest Bancorp in Medford, Ore., have approved a reverse split of the company's stock, which could boost its share price.

Webster Financial Corp. said Tuesday that it plans to raise $156.6 million to help pay off its Troubled Asset Relief Program funding.

Anchor BanCorp in Madison, Wis., has regained compliance with Nasdaq listing requirements after its stock price rose in recent weeks.

The federal bank regulators announced asset-size thresholds Tuesday for small institutions to qualify for easier Community Reinvestment Act exams.